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the cities deal with the immense problems that get thrust upon them as a consequence of diminished tax bases, as a consequence of housing, a significant portion of the public and the states that are in the most need. we are committed to having a third phase of the so-called big deal in the budget. we're of the view that just as it took during the clinton administration, it didn't happen in one fell swoop. the economy in great shape and move toward a balanced budget. it started off in three phases. it started off with president bush's actions, the first president bush in terms of taxation before president clinton took office. and then the actions the president took in 1994 and then in 1997. well, we think there is a third phase here that can set our country on a path that will allow us to get our debt to g.d.p., our deficit to g.d.p. down around 3%, which is the basis of all economists left, right and center all agree on the areas we can begin to grow as a country. and as my grandfather used to say with grace of god and goodwill of the neighbors, cooler heads will prevail now between no
the cities deal with the immense problems that get thrust upon them as a consequence of diminished tax bases, as a consequence of housing, a significant portion of the public and the states that are in the most need. we are committed to having a third phase of the so-called big deal in the budget. we're of the view that just as it took during the clinton administration, it didn't happen in one fell swoop. the economy in great shape and move toward a balanced budget. it started off in three...
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Jan 18, 2013
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on the income tax and less reliance the sales tax. [applause] in my budget -- in my budget, i propose to cut the sales tax in the current rate of 6.25% to 4.5% and dedicate all the proceeds to public works fund. that fund will support the transportation plan i have laid out for both existing responsibilities and the necessary and should project as well as the school building fund and other public infrastructure. under my plan, sales tax proceeds would be off-limits for any other purpose to support her education initiatives, my budget will propose that we increase income tax by one percentage point, 6.25% to make that increase fair to all according to their ability to pay will propose that we double the personal exemptions for every taxpayer and eliminate a number of itemized deductions. making those changes gives us a tax code that is sent. fair. let me add that these changes are sales income and business tax will be comparable to an competitive with other states in the region and beyond with which we compete. this is what i will prop
on the income tax and less reliance the sales tax. [applause] in my budget -- in my budget, i propose to cut the sales tax in the current rate of 6.25% to 4.5% and dedicate all the proceeds to public works fund. that fund will support the transportation plan i have laid out for both existing responsibilities and the necessary and should project as well as the school building fund and other public infrastructure. under my plan, sales tax proceeds would be off-limits for any other purpose to...
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on the income tax and less reliance on the sales tax. [applause] in my budget, in my budget i will propose that we cut the sales tax from the current rate of 6.25% to 4.5% and dedicate all of the proceeds to a public works fund. that fund will support the transportation plan i have laid out both our existing responsibility and the necessary expansion project. as well as the school building fund, and other public infrastructure. under my plan, sales tax proceeds would be off limits for any other purpose. to support our education initiative, my budget will propose that we increase the income tax by 1 percentage point to 6 % 25% to make that increase fair to all according to their ability to pay. i will propose that we double the personal exemptions for every taxpayer, and eliminate a number of itemized dedeductions. making those changes gives us a tax code that is simpler and fairer. let me add that with these changes are sales, income, and business taxes will be comparable to and other states in the region beyond with which we compete. th
on the income tax and less reliance on the sales tax. [applause] in my budget, in my budget i will propose that we cut the sales tax from the current rate of 6.25% to 4.5% and dedicate all of the proceeds to a public works fund. that fund will support the transportation plan i have laid out both our existing responsibility and the necessary expansion project. as well as the school building fund, and other public infrastructure. under my plan, sales tax proceeds would be off limits for any other...
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tax. you know what one of the legislator said to one of our nurses going to the capitol and talking about the wall street tax? she said, you nurses need to lower your expectations. the nurse looked at her and said, would you like for me to say that to you when i am prepare you for surgery? the true story. i mean, honestly, literally, it is a disgrace -- lower your expectations? i see what is happening out here every day. we're not going to lower our expectations. we're going to fight for a real economy. our economy has been hijacked -- we can talk about all the problems, talk endlessly about what i heard yesterday -- i heard about a woman yesterday. we heard about a real woman yesterday from michigan who actually chose to have her leg amputated because she could not afford the antibiotics in terms of taking care of her leg. she had her leg amputated because of money, because of money, because we do not have a health care system. it is a disgrace. the robin hood tax can generate $350 billio
tax. you know what one of the legislator said to one of our nurses going to the capitol and talking about the wall street tax? she said, you nurses need to lower your expectations. the nurse looked at her and said, would you like for me to say that to you when i am prepare you for surgery? the true story. i mean, honestly, literally, it is a disgrace -- lower your expectations? i see what is happening out here every day. we're not going to lower our expectations. we're going to fight for a real...
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be a lot of regulations there's a lot of smaller regulations state level regulations and fears about tax code or that's the the rhetoric that business leaders are largely focusing on and where i do think that today's data is nonce sort of reflecting the reality on the ground is that sure you've got a lot of profits at these large corporations but what we haven't been seeing is investment in the economy and that's the reason why the economy is weak that's the reason why import unemployment is still a significant problem is you can make a lot of money you can borrow money from the fed for basically free and then you can loan it back to the government and make a three percent profit on the free money that you got in the first place and you can rack up a lot of profits but that doesn't necessarily mean that we have a strong economy without actual investment in the economy itself we're not going to see economic growth so just jim let's talk about this piggybacking off of what anthony is saying one of president obama's approach is to fix the economy that's kind of the trickle down economics so
be a lot of regulations there's a lot of smaller regulations state level regulations and fears about tax code or that's the the rhetoric that business leaders are largely focusing on and where i do think that today's data is nonce sort of reflecting the reality on the ground is that sure you've got a lot of profits at these large corporations but what we haven't been seeing is investment in the economy and that's the reason why the economy is weak that's the reason why import unemployment is...
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before the green energy companies would get tax credits. >> yes. bill: but through the stimulus law that was signed, they received money. >> oh, yes. bill: cold cash. >> called section 1603 of the american recovery and reinvestment act which is in 2009 as you mentioned. about $16 billion have been dolled out so far. 4 billion gone to the foreign companies. basically going back to a lot of them, spanish, company, spanish renewable energy company got $1.8 billion from the u.s. taxpayers to do work here in the united states. but isn't the goal here to basically spur on growth of american companies. create american jobs? sure. bill: i agree with you. that is what we thought it was for though. >> we did. bill: what that shows you this white house was dead set on pursuing a green energy policy. and they did it through a stimulus that we thought was going for something else. >> at all costs too. basically they're taking our hard-earned money at a time when we're running, about, how much trillions of dollars we're in debt right now? you're taking money to
before the green energy companies would get tax credits. >> yes. bill: but through the stimulus law that was signed, they received money. >> oh, yes. bill: cold cash. >> called section 1603 of the american recovery and reinvestment act which is in 2009 as you mentioned. about $16 billion have been dolled out so far. 4 billion gone to the foreign companies. basically going back to a lot of them, spanish, company, spanish renewable energy company got $1.8 billion from the u.s....
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corporate profits are the highest they've been under any president since world war two take a lot after tax profits are up one hundred seventy one percent the s. and p. five hundred index has gone up eighty percent since the president took office and here are a couple examples of how well corporations are doing caterpillar. profits grew thirty two percent since last year and yahoo earnings per share grew sixty seven percent since last year now whether these profits are because of the president's policies or in spite of them it's all in the eye of the holder for more on corporate profits i was joined earlier by r.c. producer justin underhill as well as anthony around as though he's the director of economic policy at the reason foundation i first asked anthony if president obama based on the numbers is really that close to being a socialist. well it all depends on how you define socialism i think even the president that he's in favor of redistribution of wealth and that's a good things it's all about like the language the language that's used it whether or not it's positive or negative gets g
corporate profits are the highest they've been under any president since world war two take a lot after tax profits are up one hundred seventy one percent the s. and p. five hundred index has gone up eighty percent since the president took office and here are a couple examples of how well corporations are doing caterpillar. profits grew thirty two percent since last year and yahoo earnings per share grew sixty seven percent since last year now whether these profits are because of the...
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that's as all americans adjust to smaller paychecks due to higher taxes. >> the hit to incomes are going to be a first quarter event for the most part, so much of that effect will be felt in the first quarter and it gradually dissipate in our view as the year wears on. >> reporter: so, what will it take for the economy to return to much stronger footing. many say the answer lies with the housing market, which needs to built a stronger foundation. that brings us back to lenane and one of her listings. it's a five bedroom condo with river views. it can be yours for $4.75 million. >> to be able to get 3,100 square feet in manhattan is a real rarity, especially the bedroom count because people are really having families and staying in the city. and, this apartment really speaks to that. so that's why we've had such great traffic. >> reporter: traffic maybe, but will it sell? perhaps if the economy continues to show fresh signs of life. suzanne pratt, "n.b.r.," new york. >> tom: disappointing. that describes the last quarterly financial performances from two of the country's biggest banks, ba
that's as all americans adjust to smaller paychecks due to higher taxes. >> the hit to incomes are going to be a first quarter event for the most part, so much of that effect will be felt in the first quarter and it gradually dissipate in our view as the year wears on. >> reporter: so, what will it take for the economy to return to much stronger footing. many say the answer lies with the housing market, which needs to built a stronger foundation. that brings us back to lenane and...
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this is a big tax cut. so i say to you, in terms of what has to happen next, i think it will require the revenue side of the equation and the spending side of the equation to be addressed. let me conclude by saying this. how do we get out of this in the current circumstance? the president says he will not negotiate on the debt limit. republicans say they will not vote for excess and on the debt limit unless they get substantial additional cuts in spending. i think judd is absolutely right. we have another dynamic at work here. and that is the sequester. $1.20 trillion of across-the- board spending cuts, half in defense and half in non-defense. republicans delight it. democrats don't like it. that creates an opportunity. there's also the question of how long do you extend the debt limit. i think it would be incredibly foolish to renamed on the debt of the united states. -- to renig on the debt of united states. but how long we extend the debt limit, that is open to negotiation. and between the two of how lon
this is a big tax cut. so i say to you, in terms of what has to happen next, i think it will require the revenue side of the equation and the spending side of the equation to be addressed. let me conclude by saying this. how do we get out of this in the current circumstance? the president says he will not negotiate on the debt limit. republicans say they will not vote for excess and on the debt limit unless they get substantial additional cuts in spending. i think judd is absolutely right. we...
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type flat tax. host: do you think that would work? caller: i think that would eliminate all these loopholes people take twn tax code system. if you're married, own a house, have children, you get all these deductions and if you don't have any of those things, then you don't get to take any of those deductions so it's just not fair. if your income comes from capital gains there is a different tax rate for you. if the government wants to help bring the economy back, make everything fair across the board as far as taxes go. host: thanks for the call. we welcome our listeners and our focus this morning the role of government in solving america's problems. it was something that dwight eisenhower talked about in his fair well address 52 years ago this week. from our twitter page there is this from one of our viewers -- rick is joining us from maryland democrats line. good morning. caller: good morning. i think the government should be a part of our life, because without the government all these millionair
type flat tax. host: do you think that would work? caller: i think that would eliminate all these loopholes people take twn tax code system. if you're married, own a house, have children, you get all these deductions and if you don't have any of those things, then you don't get to take any of those deductions so it's just not fair. if your income comes from capital gains there is a different tax rate for you. if the government wants to help bring the economy back, make everything fair across...
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underlying factors that drives violence in our society pass an assault weapon ban and repeal the reagan tax cuts two for more let's bring in mike papantonio attorney and host of ring of fire radio five welcome back. great great to see it president bush signed a number of far more radical executive orders during his term including as i mentioned earlier a ban on stem cell research the authorization of torture created more powers for the v.p. office making it harder to get access to presidential records none of these were taken with any consideration of congress why wasn't congress up in arms about that . wasn't as much money involved for the republicans then the jim sensenbrenner story tells you a really sheds a light one how completely the republicans are owned in order to round by the gun manufacturing industry this hustler of republican politician if you follow this story engineered a plan where he snuck it into the patriot act where the president couldn't appoint an a.t.f. chief now the reason this story is important is it shows you how wholly own republicans are by the gun industry with
underlying factors that drives violence in our society pass an assault weapon ban and repeal the reagan tax cuts two for more let's bring in mike papantonio attorney and host of ring of fire radio five welcome back. great great to see it president bush signed a number of far more radical executive orders during his term including as i mentioned earlier a ban on stem cell research the authorization of torture created more powers for the v.p. office making it harder to get access to presidential...
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as i said the other night, if only the corporations set corporate tax law, it would be pretty low. if only the gun guys set gun laws, there aren't going to be any gun laws. the people who don't own guns or own guns casually will have to do something. >> that's exactly right. that's what the president has taken away from the lessons of newtown. listening to the heartbeat of the people on this right now. you can see it in the polls. you hear it in the language, and right now the gop's message is out of sync with that heartbeat, and i think there are ways and opportunities for them to get back in sync to lay out that concern about the second amendment and why the protection is important, but put it out there in the context of those kids who were killed because that's what people see most of all. >> let's talk about the president's strength now. bob, this monday and -- this tuesday he will have taken the oath a second time. the american people have doubled down on this president, a majority of the american people have voted for this guy. two majority votes. he will have that in his poc
as i said the other night, if only the corporations set corporate tax law, it would be pretty low. if only the gun guys set gun laws, there aren't going to be any gun laws. the people who don't own guns or own guns casually will have to do something. >> that's exactly right. that's what the president has taken away from the lessons of newtown. listening to the heartbeat of the people on this right now. you can see it in the polls. you hear it in the language, and right now the gop's...
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we kept middle class taxes low. we insured that every working family across the country had a little bit more money in their pocket to get through some of the tough times. we enacted health care reform. these are real things that we did to take steps to move our country forward. this is what the american people voted for. they voted for change and they voted for action, and stloetd for a pretty specific agenda. >> i wanted to also ask you about valerie jarrett's interview with politico and mike allen. she really pushed back hard on the argument that there have not been so far enough women in key roles throughout the cabinet. i'm not talking about the whole cabinet, but the lead four. now we look at dennis mcdonough being the chief of staff. on the frontline, not enough women. she points out in her comments to mike allen and jim vaned high, i don't play golf. i don't play basketball. i don't really play cards. i don't think anybody questions whether i have a role to play here. it's irrelevant whether the president wa
we kept middle class taxes low. we insured that every working family across the country had a little bit more money in their pocket to get through some of the tough times. we enacted health care reform. these are real things that we did to take steps to move our country forward. this is what the american people voted for. they voted for change and they voted for action, and stloetd for a pretty specific agenda. >> i wanted to also ask you about valerie jarrett's interview with politico...
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tax revenue, and to fight tax evasion. i forgot to mention the privatization program, which is also necessary. >> gentleman here in the third row. >> thank you. what is your insight on the chinese economy in terms of opportunities and challenges? what goals are on top of your agenda that you want to achieve in the new year it? thank you. >> global growth is not just the top of my agenda, it is on the top of the agenda of anyone who cares about the economy and jobs. growth is a very conducive factor. turning to china, i would certainly observe that there is continued significant and substantial growth expected out of china. i would observe there has been a rebalancing within the china economy with a focused on consumption rather than exports. i would observe that the currency of china has adjusted. my hope is that these trends we have observed continue into 2013 s and the new chinese leadership. >> thank you. >> how do you see the impact of what is happening in the arab countries on the economy is in the arab world? do you
tax revenue, and to fight tax evasion. i forgot to mention the privatization program, which is also necessary. >> gentleman here in the third row. >> thank you. what is your insight on the chinese economy in terms of opportunities and challenges? what goals are on top of your agenda that you want to achieve in the new year it? thank you. >> global growth is not just the top of my agenda, it is on the top of the agenda of anyone who cares about the economy and jobs. growth is a...
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tax rolls. barbara taxes, business licensees, -- property taxes, business licensees. abortion or the unemployment rate decrease down to 7.4%. -- we have seen our unemployment rate decreased down to 7.4%. a great focus on regionalism. host: with so much talk about the debt and deficit, cities often do that by floating bonds. explain how that works in mesa, arizona. guest: we do not go into debt to cover deficits. mostwe get our fiscal cliff literally three and four years ago. we had to figure it out on a cash basis counterbalance our budget. westreets, police stations, mainly some work, water, those kinds of things. these are financed with tax- exempt invisible bonds. hundreds of billions, if not trillions of dollars. one of the proposals that does not seem to want to die is to somehow tinker or eliminate the tax-exempt status of municipal bonds. this is extremely important to us. you are talking about the basic financing infrastructure itself of cities and states. that is huge. mesa is not a hea
tax rolls. barbara taxes, business licensees, -- property taxes, business licensees. abortion or the unemployment rate decrease down to 7.4%. -- we have seen our unemployment rate decreased down to 7.4%. a great focus on regionalism. host: with so much talk about the debt and deficit, cities often do that by floating bonds. explain how that works in mesa, arizona. guest: we do not go into debt to cover deficits. mostwe get our fiscal cliff literally three and four years ago. we had to figure it...
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raising taxes on the rich would balance the budget, it didn't. banning rifles with certain cosmetic features will prevent shootings, that's not true. and the real question is his motives and stated reasons don't make sense. people have a right to have answer and i don't know what it is. >> megyn: is it because he was born in kenya, a muslim, or the ability for like the bill clinton did, to break through and say i was born in hawaii. >> he is a different kind of president than we've ever seen. he's an african-american man, to start with. he's also a little bit more academic. he's one of those people that sort of internalizes and processes things before he comes out and states his policy. very different from president bush and clinton who were about nicknames and joked around a little bit, and more overt. and a man who has written two books about his life and vetted through two presidential campaigns and tucker working on campaigns, we go to great lengths to try to dig up any dirt we can, so i think there's much dirt to be found, but i will say thi
raising taxes on the rich would balance the budget, it didn't. banning rifles with certain cosmetic features will prevent shootings, that's not true. and the real question is his motives and stated reasons don't make sense. people have a right to have answer and i don't know what it is. >> megyn: is it because he was born in kenya, a muslim, or the ability for like the bill clinton did, to break through and say i was born in hawaii. >> he is a different kind of president than we've...
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that was something that boehner tried to do with his whole plan "b" during the tax thing. and when he couldn't do that, then suddenly he lost all leverage. so that's the name of the game number one. and then the second part is what david was talking about there, which is they are trying to figure out how to basically move away from the debt limit as a part of this argument, and that's -- it's easier said than done. they know where they should be having this spending argument, and that is with funding the government. whether they can get the rank and file to that place is another story. and that's why the white house's strategy is go ahead and pass something. you've got that whole dollar-for-dollar spending cuts to debt limit, go ahead and give it a shot. see how you come up with it because the white house doesn't believe that boehner can pass a bill that even meets his own standard of dollar for dollar. >> and i would just add, i think the view among top republicans, republican leaders, is that the well is so poisoned by president obama. i mean, this goes beyond, you know,
that was something that boehner tried to do with his whole plan "b" during the tax thing. and when he couldn't do that, then suddenly he lost all leverage. so that's the name of the game number one. and then the second part is what david was talking about there, which is they are trying to figure out how to basically move away from the debt limit as a part of this argument, and that's -- it's easier said than done. they know where they should be having this spending argument, and that...